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Insurers 'labouring' under accounting standards

PricewaterhouseCoopers has welcomed the International Accounting Standards Board discussion paper on...

PricewaterhouseCoopers has welcomed the International Accounting Standards Board discussion paper on the future of insurance accounting. Partner Alex Finn said: "Insurance accounting labours under too many diverse accounting standards, which cost the industry when raising finances and capital. The IASB's move towards a single global accounting standard for insurance is an important step to improving the quality, transparency and comparability of financial reporting for this sector.

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